New Condo Conversion Coming...(probably)

[JaxInvestor]

Miami developer pays $9.2M for Jacksonville apartments

D&O Development has paid $9.2 million a Jacksonville apartment complex it might convert into condominiums.

Read it here

[DavePaulk]

This is good news, but does anyone know where Water's Inlet is?? I'm not familiar with this development.

[Captain Obvious]

This is good news, but does anyone know where Water's Inlet is??

[wolfdawg54]

It seems to be just a smaller development in the area. We will see what he has in mind though.

[DavePaulk]

About the River Reach Condos... I know somebody who is in on the project. Apparently it's a bunch of local rich guys throwing in some money to build condos and a country club perhaps. It will be called "Old San Jose". I know only very fuzzy details, but I will find out some more.

[Captain Obvious]

About the River Reach Condos... I know somebody who is in on the project.  Apparently it's a bunch of local rich guys throwing in some money to build condos and a country club perhaps.  It will be called "Old San Jose".  I know only very fuzzy details, but I will find out some more.

<{POST_SNAPBACK}>

River Reach was surprisingly attractive for cheap apartments (they used to be about $500-ish per month). They almost looked like a series of historic georgian houses, and the parking wasn't too obnoxious looking either.

I fully expect these new condos to be utterly tacky and much less urban looking than River Reach. But then again, I'm just a pessimist.

I'm also surprised that there might be a country club or even upscale condos. I thought building luxury units next to cemetaries was one of those things developers don't do.

[RiversideGator]

Captain: I am sure the new buildings will be stucco rather than brick. On a side note, I just bought an old stucco building in Riverside - ironic, isnt it?

As to the cemetery, at least they will have quiet neighbors.

[DavePaulk]

Alright, before anyone takes my comments as fact, I just want to say that my source is far from reliable. However, I think it will still be something upscale.

[RiversideGator]

There is a new billboard on I-95 facing the southbound lanes which touts "Old San Jose" as the new development for the River Reach Apts site. No details, but I think they might have had contact info on it. I was driving by at 70 mph, so couldnt write anything down.

[RiversideGator]

By the way, judging from the "Old San Jose" moniker, it sounds like they intend to erect more mediterannean crap there.